Credit Card Issuer + PerformLine
How PerformLine helped a major credit card issuer increase their card offerings 8x
About the Client
The client is a multinational financial services company that offers personal banking, corporate banking, wealth management, and investment management services. Founded centuries ago, this client has consistently provided world-class financial services to millions of clients.
The client’s purpose is to share capital to support people and businesses transparently with the highest level of expertise. The client believes its success marches in full lockstep with the success of the communities it serves and takes pride in leveraging new technologies and ideas to unlock unforeseen opportunities.
Business Challenges
The client provides a number of credit cards through affiliates, partnering with some of the strongest and most recognizable brands in the world. These partnerships allow its customers to get lines of credit that are tailored to their specific needs—additional travel miles, retail benefits, cash back, and more. The client was highly interested in expanding the number and types of benefits that it was able to offer with these customizable cards.
These benefits, however, come with more responsibility. The client needed a centralized place to manage all of the relevant marketing materials generated on its behalf and ensure that those materials were not only compliant with relevant laws, but also with their own internal high brand standards. Failing to do so would have real consequences. If an affiliate mistakenly offers a customer an inaccurate rate or rewards package, the responsibility—financially and reputationally—ultimately resides with the client.
The nature of these deal packages is also often in flux. The rates the client is able to offer change with the interest rates offered by the Federal Reserve, which can change frequently depending on the state of the economy. A client of this size, with this many affiliates, can scarcely afford to pursue a “set it and forget it” marketing strategy. Instead, they required a solution that actively crawls the web to find their benefit offers, has a centralized platform to identify and remediate issues, and provides transparency to all key stakeholders.
In short, they needed PerformLine.
PerformLine Solutions
The client uses PerformLine to monitor more than 7,000 different web assets used by themselves or their dozens of partner affiliates. In addition to the known affiliate pages, the client has access to the PerformLine Kraken, our proprietary crawler that unearths even previously unknown URLs where their brand is mentioned.
The client has also worked with PerformLine to create a rulebook by which to evaluate assets, allowing them to quickly identify and remediate potential problems to a consistent standard. This constant oversight allows the client to quickly and readily adapt to changes in the marketplace and ensure that all marketing done on its behalf is accurate, current, and transparent.
The client also capitalizes on PerformLine’s Pro Services, working with our expert QA team to ensure they see curated, actionable alerts based on a customized ruleset. The client has a custom program that ensures they are getting the most out of the time they have available to remediate issues.
Results at a Glance
The Results
PerformLine has supported an 8x growth in credit card offerings
PerformLine has helped the client increase its credit card offerings eightfold, and allowed the oversight needed to add a number of new affiliate partnerships. By automating compliance marketing, the client has increased its bandwidth, and therefore the number of cards it is able to market compliantly – the client is now able to offer a much wider range of credit cards that are more tailored to their customers’ unique credit needs and desires.
The client can quickly respond to market changes
When economic changes occur, and the nature of their credit card offers change with them, the client is able to quickly adapt by reviewing their marketing content across more than 7,000 different web assets.
90% increase in web monitoring efficiency
Keeping track of 7,000 web assets manually would be a massive task. By automating the monitoring and centralizing remediation, PerformLine allows the client to find and address concerns 90% more efficiently, saving time and money.
In addition, by partnering with PerformLine, the client can feel increased security that they won’t be subject to a surprise regulatory infraction that would be costly to both its bottom line and the global reputation it has built over 300 years.
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